The Hindu Business Line : Bharti Tele gains on wider market base

THE counter of cellular services provider Bharti Tele-Ventures witnessed sustained interest on the bourses on Wednesday, clocking huge volumes. There was also talk of a block deal with reference to this counter.

Analysts maintain that the stock has been on the market radar given that it has, apart from BSNL, been the only company to have retained and increased its market share by two percentage points. Other service providers such as Hutch, Idea, Infocomm have reportedly witnessed a marginal loss of market share.

According to analysts tracking the sector, BTL has been able to shore up its market share by gaining a firm foothold into some new markets it has ventured into. There is also talk of the company getting into J&K.

The stock of Bharti Tele Ventures ended the day at Rs 183.55, up 5.76 per cent with around 47.85 lakh shares traded.

LIC HF: Re-rate talk builds interest

Housing finance counters continue to garner investor interest and the stock of LIC Housing Finance ended the day in positive territory amidst good volumes.

Brokers said that housing finance companies are being re-rated on the bourses. Reportedly a large amount of institutional interest has come into this counter.

Analysts tracking the sector maintain that there is no longer any issue of margins being under pressure. There is speculation that the company is likely to raise interests rates, which would go towards boosting margins.

The stock ended at Rs 178.55 up 2.73 per cent with around 1.38 lakh shares traded on the BSE.

Banking on valuations

In an otherwise volatile market, bank stocks continued their northward march fuelled by attractive valuations and much cleaner banks, which have been able to sustain 15 per cent plus RoE.

Banking analysts maintain that the core income increasing substantially in most banks is driving re-rating in the sector. Yet they believe that it comes with a caveat, of rising interest rates that the market appears to be ignoring.

Touted as value buy, most PSU bank counters ended the day in positive territory. Bank of Punjab and UTI Bank were amongst a few counters that witnessed a significant surge on Wednesday.

Deeptha Rajkumar

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